Annual Report 2023

Annual Report 2023


GRI 2-23 Values, standards and codes of conduct

For Geberit, sustainability means bringing about an improvement in people’s standard of living through innovative sanitary products and thereby generating long-term added value for customers, society and investors. This means striking a balance in decision-making processes between economic, environmental and social aspects. One focal point of Geberit involves identifying important technological and social trends in good time in dialogue with stakeholders and developing suitable products and services for customers that also generate added value for other stakeholders. The long-term orientation minimises risks for business development not only of a financial nature but also with regard to social developments and environmental challenges, such as climate change and water scarcity, for example.

Since 1990, Geberit has followed a long-term environmental and sustainability strategy that includes both ongoing and future projects, initiatives and activities. All strategy modules contain clear responsibilities with measurable objectives, measures and quantifiable key figures for effective monitoring. The sustainability strategy is based on the materiality analysis. This was drawn up on the basis of the GRI Standards and highlights how Geberit prioritises the key topics and the areas in which added value for stakeholders is created. The material topics are:

  • durable products with exceptional quality and design, which can be cleaned and repaired easily,
  • resource-optimised, water-saving and sustainable sanitary systems for water management in buildings,
  • environmentally friendly and resource-efficient production,
  • comprehensive, measurable climate change mitigation that is geared towards implementation,
  • a supply chain and logistics which satisfy high environmental and ethical standards,
  • good and safe working conditions for all employees.

Social responsibility is realised among other things within the scope of diverse, local activities for inclusive jobs and global social projects relating to the core competencies of water and sanitary facilities.

The Sustainable Development Goals (SDGs) of the United Nations define concrete targets for 17 different themes, which the states are required to implement by 2030. Integration of the economy plays a pivotal role in implementing these targets and indicators. As a result, major opportunities with growth potential are also arising for companies geared towards sustainable products and services – such as Geberit. Geberit sees its contribution above all in four UN Sustainable Development Goals. The contributions to Goal 4 “Quality Education”, Goal 6 “Clean Water and Sanitation”, Goal 11 “Sustainable Cities and Communities” and Goal 13 “Climate Action” are included in the SDG Reporting. The major economic, environmental and social effects of Geberit’s operations also lie in these four areas.

Compliance and the adherence to applicable laws and regulations in the relevant areas comprises several guidelines for social, economic and environmental responsibility. These define ethical and social standards and Geberit commits to sustainability and integrity. Central elements for compliance in the company are the Geberit Compass, which describes the cornerstones of the corporate culture, namely the joint mission, the shared values, the operational principles and the success factors, the Geberit Code of Conduct for Employees introduced in 2007 as well as the Code of Conduct for Suppliers. The Compass is reviewed as part of the annual strategy process of the Group Executive Board and updated, when required. The publication of a new version of the Compass is planned for 2024. The Code of Conduct for Employees, which was last updated in 2015, is currently being revised and will also be relaunched in 2024.

When reporting on its commitment to sustainability, Geberit also relies on the requirements of established rating agencies. In this way, Geberit serves the growing needs of customers, suppliers, investors and other stakeholders for transparency and comparability, with the rapidly increasing number of reporting standards and ratings making a focus increasingly necessary. Various awards and rankings also serve to confirm Geberit’s perceived role as a leader in sustainability in sanitary technology.